St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-08
On the Chicago Board of Trade There
Was a Continuation of Satur-
days Bullish Feeling.
The Principal Activity as Regards
Wheat Seemed to Center in June
%, and July Options.
But Little Surprise Caused by the Rather
Heavy Decrease in the
Visible Supply.
Transactions in the Financial Circles
of Wall Street.-The Gen.
eral Markets.
Special to the Globe.


CHICAGO. June. THE Chicago crowd,
made up for the most part of bears, big and
little, have been whipped around so by the
CLIQUE that they are now willing and anxious
to do lust exactly what the clique does. In
May the crowd thought the clique had aban-
doned the squeeze because il couldn't get the
money needful. In June the crowd were
lust as certain the same thing would happen.
They were beaten and disguised and humili-
ated on both occasions. They lost money in
May ~tGcking on" and lost more moey in
June fighting, and now the only thing in the
world they want is to know what the clique
wants to do. They desire to do something.
This accommodating spirit is something en-
tirely new to the wheat option just now. 1t
was put by the crowd to S75Sc this morning,
for moment Notwithstanding enormous re-
ceipts for the sole reason ii is believed that the
clique when it gets ready, will bull July. 1t
apparently has not yet got big enough in
terest in July to pay it 10 bull it. On the
other hand it plainly has not begun its sell
ing i'll June. At the opening Rosenfeld u Co.
We're sellers Of Dune at 931a@94S4c. 1t looks
as ii all
THE JUNE SHORTAGE
was to he settled through Rosenfeld & Co.
None of the other clique houses have so far
sold. June wheat, in spite of Rosenfeld'S
sales, was at 94S4c before noon. The clique
called up to 81 all those who had called them
down to 10 per cent. There was an uneasy
feeling among the shorts, and Kershaw was
half the time surrounded by brokers who
evidently had orders to take in their short
wheat without standing on ceremony. The
clique houses were buyers of July wheat
on small scale early, but there were those
who thought that selling by another set Of
brokers. who had been apparently III commu-
nicatiOn with Kershaw, was for clique ac-
count. The visible supply statement had no
effect on the market. 1t was known just as
soon as the New York clearances were made
public yesterday that the Visible supRly''
would show decrease of ABOUT
100000 bushels. The crowd anticipated that
the official figures would show this, and it
did. There was an impression all the fore
noon that the clique were marketing their
holdings. Rosenfeld continued a seller of
June, and there was so much selling of July
and the market looked so weak, notwith-
standing big clearances at New York (341,
Geo bushels), that the impression got abroad
that the load of cash wheat was going oyer
board for the next month. On the other
hand, there were several operators who had
been right" on the market, and whose in
spiration has plainly come from clique
houses, who were buying July wheat on the
break All in all, the news concerning the
cliques operations looked both ways. No
body claimed they were buying July, but
there were good bulls who were evidently
very certain that the time was coming when
the clique would be buyers of July.
THE ROUTINE REPORT.
CHICAGO June 7.-There was continual
ton OF the bullish feeling of Saturday after
noon in the wheat pit this morning. June
wheat opened ISc better than Saturdays
closing figure at 937sc. July, which closed
al S62Ic on Saturday, started in this morning
at STssc, sCld to S7Ac and then picked up
steadily TO S75sC. The latter figure was put
by the crowd for a moment, Notwithstanding
large receipts, on the supposition that the
shorts were rushing in, afraid of being Sc
verely pinched. Belief was also current that
the clique would eventually bull July wheat.
August was simply firm between S4$sc and
Receipts were large. After the first rush the
tone of wheat was steadier, July keeping
very close to STl.c. The increase talk began
to subSide and its place was taken by proba-
no surprise when it was announced that the
visible supply mad decreased 75S,00O bu
during the past week. The statement held
July up to S7ls7 S7ssc for awhile, but sub
sequent reaction, caused by quite free selling,
carried down to S624c. The operators in June
during the morning session were mostly be-
tween 93l2c and 93SSc, though the market at
one time was as high as 9Il5c. June on the
afternoon board. closed at 9314c, and July at
S6S46S6Isc. Corn opened steady and ad-
vanced Il tritle, but weakened and priced 3sc.
but closed at Iac lower than Saturday. The
market was fairly active, but trading was
mainly in the way of selling out long June
and transferring trades TO more deferred
months. July opened at 39s4c. sold to 40lsc,
broke to 39s4c and closed at 393sc. Oats
were as steady as for the past week. The
sales were largely in July, with few in
August. The opening was strong and the
closing. weak. Provisions were moderately
sfit-e ltTtx ND dan dcho
especially short ribs. The weakness was at
tributed to reports of yellow fever at Key
West, but no reports Of any fever reaching
the main land they caused no uneasiness
and not only induced free selling, but pre-
vented buyers from taking hold July lard
opened ct Sc. 72la, sold to 81 .62I2 and closed
tame. The official visible grain supply state
ment shows decrease for the past week of
757, 900 blu of wheat, 364, 600 bu corn
337, Az bu oats, Il 900 bu rye and 1000
bu barley. The total amount OF wheat visi-
451 900 bu, against 33,465,0U blu on the
corresponding date last year. Stocks of
wheat in Chicago are IL, 202, 900 bu against
S,243,0O0 at the same time last year.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. . June. 93l261S3Isc closing at
93Ac; July, S77sc, closing at s6$4c; August
closing at S3Ac. Corn-No.2 June SOC,
closing at 3S14c; July. 40c, closing at 1880;
August, 4o7sc, closing at -40ssc; September,
dc, closing at 4lHc.- OatS-NO. 2 June,
273ic, closing at 25l2c; July, 2634c closing
at 26l2c; August, 264c, closing at 26c:
September, 2614c, closing at 26c. Mess Pork
Per Dbl, June, S23. closing at S2S Lard
Per100 Ii s., June, S6.62l2 closing at Sc 57Is:
July, S6.72l2, closing at S6.62I2; August,
$3.50, closing. at $6,72l2: septem-
Der, $500, closing at $3.50. Short Ribs
Per 100 lbs, June, STATE, closing at 81 25;
July, S7.4Tl2, closing at S735;
August, $50. closing at S7.45; Sep
TENDER, S7.75, closing at S7.55.
Cash quotations were as follows: Flour
Market was firm and unchanged. No. 2
spring wheat, 92I2@93c No 8 spring
wheat. 7Sc; No. red, 92Iac Corn-No. 3
3s@3sl2c; oats-No.2 25lee: Rye-No. ?,
54c. Barley-No. 2, SOC. Flax seed-No
], Sl-16. Prime timothy seed, 81. S7@I 80
Mess pork, per Dbl, $3.50. Lard, per 100
lbs S6.57la06.60. Short ribs sides. loose
S1.35; dry sailed shoulders, boxed, S. GOO
SO; short clear Sides boxed, 81 7OGa7. rs.
Sugars-Cut loaf, 6Ss@6ssc: graduated
Csc. Receipts Flour, 13, ZOO bbls; wheat
$4,000 bu; Nm, $4,000 Blu; oats. I25'
900 bu; rye, 1000 bu; barley. 5000 bu
Shipments Flour, $4,000 bbls; wheat
$1,000 bu; corn, 10000 bu: oats, los. 600
bu; rye, 1000 bu: barley l 900 bu. on the
produce exchange to-day the butter market
was steady. with fair demand: creamerv
139l7c: dairy, 12@15c. Eggs were easier
at 12laG1I3c.
r. M. NEWPORT SOM